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The monoclonal antibodies market share is expected to increase by USD 63.41 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.2%.
This monoclonal antibodies market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers monoclonal antibodies market segmentations by application (oncology, autoimmune disordersiInfectious diseases, and other applications) and geography (North America, Europe, Asia, and ROW). The monoclonal antibodies market report also offers information on several market vendors, including AbbVie Inc., AstraZeneca Plc, Bristol-Myers Squibb Co., F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer Inc., and Sanofi SA among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The introduction of low-priced biosimilar monoclonal antibodies is notably driving the monoclonal antibodies market growth, although factors such as the high cost of monoclonal antibodies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the monoclonal antibodies industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Monoclonal Antibodies Market Driver
The introduction of low-priced biosimilar monoclonal antibodies is notably driving the monoclonal antibodies market growth. The introduction of biosimilars aimed at curbing the increasing year-over-year cost of healthcare and handling the economic pressure from the patient pool and governments to reduce healthcare expenses could be instrumental in reducing the cost of medication and increasing patient access to treatment. The reason for the low cost of a biosimilar is that the number of clinical trials for a biosimilar is comparatively lesser than that needed for the original biologic drug. Biosimilars of widely sold monoclonal antibodies INFLECTRA have already entered the market, and many are in the pipeline. Another major step to control the cost of delayed entry would be to limit patent litigation to avoid delay in market entry and to invest in physician and patient education to increase awareness about biosimilars.
Key Monoclonal Antibodies Market Trend
Increasing cases of diseases like cancer and immunological disorders is the key trend driving the monoclonal antibodies market growth. Cancer is the second major cause of death across the globe, and cancer cases have increased significantly in the past few years. This sudden increase in the cancer rate is said to have a genetic basis. The accumulation of mutant alleles in the population is responsible for such a tremendous rise in cancer cases across the globe. In addition to the genetic factors, urbanization, pollution, and lifestyle changes contribute to the rise in the incidence of cancer. The increased prevalence of cancers and immunological disorders is fueling the use and importance of monoclonal antibodies, which are among the effective treatments for such disorders. Cancer biologics, particularly monoclonal antibodies, are revolutionizing cancer treatment by targeting specific cancer cells with high precision, thereby enhancing the effectiveness of therapy and reducing side effects. In the US, EU5, and Japan, governments issuing clear regulatory pathways and payers providing near-term growth opportunities for biologics are factors that are supporting the growth of biologics. In developing countries, the socioeconomic conditions characterized by poor financial access to high-priced biologics create non-consumption and untapped demand, hence leading to favorable long-term growth opportunities.
Key Monoclonal Antibodies Market Challenge
The major challenge impeding the monoclonal antibodies market growth is the high cost of monoclonal antibodies. Monoclonal antibodies cost high, both at the end-user stage as well as the development stage, primarily owing to the use of highly advanced and expensive facilities. For manufacturing a monoclonal antibody, several processes, starting from the immunization and serum screening to the splenocyte fusion and single-cell cloning, are needed. For instance, the immunization stage of animals requires the availability of animal house facilities where the animals meant for immunization can be kept under hygienic conditions. The procedures of splenocyte fusion and isolation of single clones require highly skilled personnel for handling the biotechnological tools. All these processes require advanced equipment and sophisticated research procedures, which are highly expensive. As such, manufacturers incur huge expenses for the development of a single monoclonal antibody product. To recover the development costs, the manufacturers set high prices for monoclonal antibodies.
This monoclonal antibodies market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the monoclonal antibodies market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the monoclonal antibodies market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the monoclonal antibodies market encompasses successful business strategies deployed by the key vendors. The monoclonal antibodies market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The monoclonal antibodies market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the monoclonal antibodies market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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